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Australian police swoop on Gold Coast betting scam run by the 'Irish Boys'

Two Irish men are being held by Queensland Police.

Image: Shutterstock

TWO IRISH MEN are among four people arrested in a series of raids across Australia’s Gold Coast targeting a suspected fraud syndicate.

Australia’s Crime and Corruption Commission (CCC) allege that the group, known as the ‘Irish Boys’, are involved in a cold-calling investment scam operation that has made at least $4 million by defrauding at least 150 people across the country.

It’s claimed the group run high-pressure sales operations known as ‘boiler-rooms’ and attempt to sell fake investment schemes and sports betting software.

Police believe that the four men arrested are among the leaders of the syndicate and are aged 32, 33, 34, and 36. Two of the men are Irish nationals and formal charges are expected to be brought later today.

Police say that there is an intelligence to suggest that some of the money has gone offshore.

“It will be alleged that these four men were the key players in running the two boiler rooms that we’ve dismantled today,” CCC’s Michael Scott said at a press conference this morning.

It’s understood that the software is aggressively sold to people on the premise that it provides them with a foolproof way of winning money from bookmakers by allowing them to bet on both sides of a two-sided sporting event at a profit.

The reality is those scammed cannot make money using the software because bookmakers do not take such bets.

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The syndicate is alleged to have used seven different companies to conduct their operation with the raids carried out a number of locations at Surfers Paradise and Bundall.

Three businesses and six residential properties were searched along the Gold Coast and Scott says that “two active boiler rooms” were shut down by CCC officers working with Queensland Police.

Forty-five people were found to be working out of the offices police said today:

“Sales people use high-pressure and dishonest sales tactics to sell fraudulent investment schemes and sports betting software to members of the public. It is sophisticated organised criminal activity.”

Some of the dishonest tactics used by those involved in the scam are the use of false names, virtual offices and even fake receptionists to deceive the those targeted by the fraudsters.

Read: Irishman arrested after Sydney couple awoke to find him naked in their bed >

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About the author:

Rónán Duffy

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